How-to-Track-Your-Brand-in-5-Steps--Complete-Guide

How to Track Your Brand in 5 Steps? 2024 Guide

Well, you might have never thought about this before but your brand name can be an actual differentiator

Well, you might have never thought about this before but your brand name can be an actual differentiator to distinguish your products and services from the competition.

Your brand is a valuable asset to your company. It plays a key role in customers’ purchase decisions, customer loyalty, and even your pricing, among many others.

But how do you keep track of this asset? How do you know if it’s performing well or not?

Brand tracking is what you need to measure the overall performance and health of your brand in various aspects from awareness to sales.

In this article, we’ll explain what brand tracking is, how you can do it in 5 easy-to-follow steps and we’ll introduce some tools you can use to make the process a whole lot simpler.

Shall we begin?

What is Brand Tracking?

Brand tracking is the process of consistently measuring your brand health KPIs, such as purchase intent and Share of Voice, and correlating those to more tangible metrics of your company like sales figures and profitability. 

The main objective of it is to make brand marketers — like you — understand how their brand-building efforts are contributing to the overall performance of the company from its financial viability to its growth potential.

No doubt, this is a challenging task. However, there is evidence that brand-building efforts have a direct impact on sales.

In fact, 55% of people are more likely to buy a product if they love a brand’s story. You see, branding and sales go hand in hand.

If that wasn’t enough for you, we have some extra reasons why tracking your brand is crucial for your company’s success.

Why is Brand Tracking Important?

First of all, tracking your brand can help you see the real impact of your marketing, PR, sales, and customer service efforts. If those strategies are working well, then you’ll get a high score in your brand tracking survey.

For example, if you run PR campaigns to build brand trust among your target audience and they’re performing well, you can see the respective metric going up along with your sales, as 81% of buyers need to trust a brand to purchase its products or services.

On the other hand, if your strategies aren’t paying off, tracking your brand will uncover where there’s room for improvement. It’ll help you identify the weak spots in your strategy.

Secondly, brand tracking studies can provide you with competition and market-related insights.

Share of Voice report on Mentionlytics

For instance, your position in your league and how your competitors compare. You can’t track your brand without comparing your performance to your competitors. Therefore, a competitor analysis is mandatory.

Also, by tracking your brand, you can gain vital information on your customers’ behavior, perceptions, and needs.

In particular, what they like and dislike about your offerings and their purchasing habits. A brand tracking research gathers this kind of customer feedback and assesses it to unravel actionable insights.

These insights you can share with your product team for future improvements, your content team to create engaging content, your sales team to address customer challenges more effectively, and so on.

Eventually, tracking your brand can assist your team in maintaining it in good health. It can prove ROI in difficult-to-measure campaigns, like brand awareness campaigns on social media.

Also, it’ll make sure you’re on the right track with your brand strategy.

Let’s see together now how you can do a brand tracking survey in 5 steps.

5 Steps to Track Your Brand Effectively

To be honest, tracking your brand is probably one of the most complicated marketing activities. But it’s worth your time and effort. It’s somehow similar to a brand audit but it’s more in-depth and continuous.

Below you’ll find our process for a complete brand tracking report.

1. Define Goals to Pick the Right KPIs

The first and most important step is setting up clear objectives of why you are doing this. For example, improving your brand reputation or calculating the ROI of your recent marketing efforts.

These objectives will guide you in selecting the appropriate brand marketing metrics you’ll need to get the meaning out of the numbers.

For instance, if your goal is to increase your brand awareness, the metrics you’ll look out for will be your brand mentions reach, website traffic, brand recognition, and more.

2. Select Your Brand Tracker

After deciding on your objectives, you have to pick the methodology you’ll go by.

In most cases, companies select to conduct brand tracking studies with questionnaires, interviews, digital analytics, and social listening to gather all the necessary data from their customers.

We recommend you blend all these methodologies to achieve rich data and neglect no channel.

You see, you need different brand tracking tools to measure different KPIs. For example, a questionnaire can’t show you the reach of your mentions, but a social listening tool, like Mentionlytics can.

As we’re on the subject, here are the most common brand tracking metrics you should know:

  • Volume of online mentions and their engagement rate, reach, and sentiment
  • Share of Voice
  • Media Share
  • Market Share
  • Conversion rates
  • Net Promoter Score (NPS)
  • Purchase intent
  • Frequency of purchase
  • Number of new customers
  • Number of lost customers
  • Revenue growth
  • Brand perception
  • Customer loyalty
  • Brand equity
  • Customer referrals

Of course, there are various other key metrics you should track with your brand monitoring tools.

However, you should be careful when selecting your brand tracker. It must be capable of providing you with as much data as needed to calculate all these metrics efficiently.

In addition, you need to be able to visualize your data and draw meaningful conclusions and actionable insights from your brand tracking software.

For example, if you use a social media monitoring tool like Mentionlytics you can not only see how many mentions you’ve got in a certain period but you’ll get a visualized view of your mentions over time to identify the spikes caused by your ad campaigns.

Overview Chart in Mentionlytics

3. Collect and Analyze Data

As soon as you’ve got your brand tracker in place, it’s time to start collecting your brand performance data from various sources and get the analysis going.

Use analytics tools to process and organize your data efficiently. Pay attention to trends and patterns in the data, as they reveal valuable insights.

Furthermore, compare your current findings with past data to assess progress and possible changes.

Also, use qualitative and quantitative methods from customer interviews to your CRM data.

Pro Tip: Your brand tracker should collect data from a wide range of online and offline sources for your research to be as complete as it gets.

4. Monitor Continuously and Adapt

When tracking your brand, continuous monitoring and adaptability are key.

Set up automated tools for real-time data collection for the key metrics you’re most interested in.

Regularly review these metrics to spot emerging trends or shifts in customer behavior. Then, be ready to adjust your strategies based on these new insights.

What’s more, you can conduct periodic customer satisfaction surveys and encourage your audience to leave reviews and comments for your brand to evaluate long-term progress.

Don’t forget to stay informed about market changes and competitor activities.

5. Report Findings and Take Action

As a final step, reporting your findings is of the essence.

You should create clear, concise reports highlighting key metrics and trends. Especially in media monitoring reports use visuals like charts and graphs for an easier understanding of complex data.

Then, present your findings to stakeholders regularly to keep everyone informed. Prioritize actionable insights over mere data presentation.

After that, develop a strategic action plan based on these insights. Assign responsibilities to your team members and set deadlines for implementing changes. Monitor the impact of these actions on brand performance.

Adjust strategies as necessary based on your feedback and survey results. This approach ensures that brand tracking leads to tangible improvements and informed decision-making.

To wrap it up, follow these 5 steps to measure your brand and ensure you’re up-to-date with its performance. Only this way can you highlight your wins and battle your weaknesses.

However, as you understand gathering all the data you need to track your brand effectively can’t be a manual process. You need some intelligent tools to help you out.

Below you’ll find our top brand tracker options for various metrics.

Best Brand Tracking Tools

Mentionlytics

Brand Tracking Tool - Mentionlytics' Dashboard

Mentionlytics is the ultimate brand tracking tool you need for building strong brands. The platform can help you continuously monitor the whole web and all social media channels for your brand mentions and keep you in the loop of what people say about your brand online.

But Mentionlytics’ social listening platform does a lot more than just monitoring and collecting data.

The best part is that this platform automatically analyzes all your mentions to provide you with validated metrics such as volume of mentions, reach and engagement, and sentiment analysis to help you gauge your brand awareness and reputation.

It also calculates your Share of Voice and your Media Share against your competition. As a matter of fact, Mentionlytics can give you the same insights for your brand as for your competitors to help you with your analysis.

In addition to its rich data and powerful analytics, the Mentionlytics platform offers incomparable custom reports for your performance with a click of a button. So, you don’t have to worry about how you’ll present your survey findings.

Plus, you can track your branded hashtags, your campaigns, and your industry keywords to fuel your brand study with more insights.

Try Mentionlytics for FREE

Google Trends & Analytics

Google Trends for tracking brand names

Google Trends and Google Analytics are powerful free tools to track your brand.

On one hand, Google Trends offers insights into brand search popularity over time, showing peaks and troughs in the public interest.

With its comparative keyword research, it allows you to compare with your competitors, providing a context for your brand’s online presence.

On the other hand, Google Analytics tracks website traffic and user behavior, revealing how visitors interact with your brand online.

It tracks metrics like page views, bounce rates, and conversion rates, essential for understanding website performance. Together, these tools offer a comprehensive view of your brand’s online footprint.

Attest

Attest homepage, a Brand Tracking Tool

Attest offers an intuitive platform to effectively track your brand, tailored to your specific needs. Its brand tracker survey templates are customizable, allowing for precise targeting of your research objectives.

Once you’re satisfied with your survey design, Attest helps you reach your target audience from a pool of 125 million consumers across 58 markets. This vast audience access ensures engagement with relevant respondents, enhancing the quality of insights.

Also, their surveys deliver high-quality data, validated by a combination of expert human analysis and advanced machine learning.

Additionally, Attest offers expert support, enhancing your survey skills and ensuring optimal use of their platform.

FAQs

What Is The Frequency of Brand Tracking?

The frequency of brand tracking varies based on business needs and market dynamics or unexpected events. Nonetheless, it’s commonly done quarterly, bi-annually, or once per year.

Some businesses may opt for more frequent tracking, like monthly, especially in fast-changing industries, or during specific campaigns, to monitor brand performance and consumer perceptions closely.

What Is The Main Benefit of Tracking Your Brand?

One of the main benefits of brand tracking is the ability to grow your brand healthy.

It provides insights into consumer perceptions, market trends, and brand performance, enabling you to make informed strategic decisions that enhance your brand health, competitiveness, and alignment with customer preferences.

How To Track Brand Using AI?

To track your brand with AI, you need to leverage AI marketing tools that analyze large data sets for trends and insights.

These tools can process social media insights, customer feedback, and market data, providing real-time analysis and predictive insights.

Start Tracking Your Brand For Free

To sum up, brand tracking is the best way to prove the ROI of your brand-building efforts.

Are you ready to get started with it? Then, begin with social listening today.

Choose Mentionlytics as your trusted tool to monitor your brand and report your data. Try it now — 14 days absolutely free, no card required!

Maira Volitaki

About Maira Volitaki

Just a content manager here who loves researching and writing about all things marketing. But when off-duty, you’ll find me lost in a mystery book or binge-watching TV shows... or petting the nearest dog! 🐶 Feel free to drop me a line on LinkedIn.